hdfc bank shares HDFC Bank’s shares have been witnessing a lot of growth in the last few days. Be it brokerage houses or mutual funds, everyone seems bullish on it. The country’s largest private bank is currently on the radar of ‘big money’. Market experts often advise that if you want to earn money, then you should follow the people who invest big money, i.e. big money.
According to a report by Moneycontrol, mutual funds have bought HDFC Bank shares worth Rs 7,600 crore in May. What is more important and worth knowing is that for the fifth consecutive month, mutual funds have continued to add HDFC Bank shares to their portfolio. In April, mutual fund houses bought shares worth Rs 1,890 crore. In March, purchases worth Rs 4,600 crore were made, while in February, purchases worth Rs 8,432 crore were made. In January, HDFC Bank shares worth Rs 12,884 crore were snapped up.
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Quants bought the most
According to data from Ace Equity, mutual fund houses bought 4.99 crore shares of HDFC Bank in May. By May, mutual fund houses now hold 151.69 crore shares of the bank. In April, they held shares worth Rs 146.70 crore. In just one month, the value of these shares has increased from Rs 2.23 lakh crore to Rs 2.32 lakh crore.
41 mutual fund houses hold HDFC Bank shares. Of these, 26 have increased their holdings, while 14 have reduced their stakes. Quants Mutual Fund has bought shares worth Rs 2,669 crore, which is the highest. After this, ICICI Prudential Mutual Fund and Axis Mutual Fund have bought shares worth Rs 2,210 crore and Rs 982 crore respectively.
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No agency has rated it ‘sell’
On the other hand, recently BofA Securities gave a buy rating to HDFC Bank shares. This global financial firm gave a good rating estimating the company’s potential good growth. According to Bloomberg, currently 45 agencies have given a buy rating to this bank, while 5 have given it a hold rating. No one has advised to sell it.
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first published : June 20, 2024, 1:22 pm IST
